August Is Young Savers Month!Posted on Aug 03, 2021
August is Young Savers Month! As part of our celebrations, we’re giving a £10 saving boost for all new Young Saver accounts opened during August!
Members can open a Young Saver account for their children or grandchildren. Check out these 7 great reasons to open a Young Saver account today!
1. £10 Saving Boost during August
During August we’re celebrating Young Savers! Open a Young Saver Account for your children or grandchildren during August 2021 & get a £10 savings boost to kick start their savings! There‘s never been a better time to open a Young Saver account!
2. You’re never too young to start saving
Penny Post’s Young Saver account is a great way to teach children to save and manage money, or for parents, guardians and grandparents to put money aside for their youngsters on a regular basis.
Children or grandchildren of Penny Post members aged from birth to 17 years can open a Young Saver account. Putting a little aside for your family on a regular basis is an easy way to help your family prepare for the future.
3. Easy & flexible ways to save
Saving into a Young Saver Account is easy & flexible!
- Payroll deduction – save for your child direct from your pay – so easy, you won’t even miss it!
- Standing order* – set up a regular standing order from your bank or building society
- One-Off Payments* – bank transfers or pay in cheques whenever you wish, perfect for saving some Christmas or Birthday money!
*Make sure you quote the child’s initials & membership number as the reference (eg AB12345), so we can allocate funds to their account
4. Birthday Bonus
We all know birthdays are special! So our Young Savers receive birthday cards from the Penny Post team AND we credit their savings account with a £10 birthday bonus each year! That’s up to £150 in birthday bonuses for Penny Post Young Savers, in addition to our competitive annual dividend.**
5. Quick & easy to apply
Members can open a Young Savers account in minutes using Nivo or login to Online Banking & complete the online Young Saver Membership form. You will need a picture of the child’s Passport or Birth Certificate as proof of identity.
6. Safe and secure
Like all Penny Post saving accounts, members’ savings are protected by the Financial Services Compensation Scheme (FSCS), currently to the value of £85,000, giving you complete peace of mind.
Penny Post Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
7. Owned by you!
Penny Post is your credit union, owned by and run for the benefit of members within the Royal Mail family. As an adult member, you have a say in how Penny Post is run, and receive a share of any profit, in the form of an annual dividend.**
It’s also great to be part of the credit union community – locally, nationally and worldwide! The credit union movement is global with credit unions in 118 countries, and over 274 million members worldwide!
So go on, open a Young Saver Account for your children or grandchildren today! Don’t forget, during August, all new Young Saver accounts will get a £10 savings boost, so make sure you don’t miss out!.
For Terms & Conditions and further information on the Young Saver account, click here.
** The dividend is dependent on the performance throughout the year and current regulations. It is agreed by the Board of Directors and members at the Annual General Meeting.